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Use-Case: Enterprise Data Management for a specialised Institution

Background and challenge:

The client was looking for a new system to assess and validate end-of-day data for a manageable data universe and did not want to implement a full EDM system of the well-known system providers. Within the scope of a tender, the fast and simple implementation as well as the functional features of a tactical EDM solution were specified. The latter were validated in advance by a proof of concept in order to be able to assess the desired quality.

Within the project, it was necessary to make the necessary adjustments to the software and to integrate different data sources with regards to data formats and delivery frequencies from four different data vendors. Finally, in addition to the software licence, the support and, in part, the operation of the market data connections were to be taken over with a corresponding SLA.

The solution components and implementation steps:

The solution is based on the SnapFlux Suite from oraise including the tactical Enterprise Data Management (EDM) functionality and the existing connectors to data vendors. The project was implemented in just over six months in the steps defined in advance with the customer:

a. Proof of Concept

Within the first project step, the functionality was exemplified on a development environment and essential alternatives for realisation were agreed upon. 

b. The required components were installed within the physical installation. Central to this effort were the market database as well as the standard connectors to the data vendors.

c. Intraday connections in the file transfer procedure were realized aftwards, which ultimately led to the completion of the validation function known as the Silver Copy.

d. As part of the work on the “EoD connections” milestone, the so-called Golden Copy was created alongside the derived instruments and the data made available to other systems.

e. Documentation and servicing 

After the successful installation, the users and supervisors were trained regarding the use of the system and familiarised with the documentation. In cooperation with the support of oraise a permanently trouble-free operation is warranted this way.

The decisive advantages for the customer in this case were:

– A solution tailored to the client’s needs based on the SnapFlux Suite, using tactical EDM functionality.

– Easy software customisation and integration of different real-time and end-of-day sources on the one hand, and provisioning functions for other internal systems on the other hand.

– Implementation and guarantee of all regulatory requirements for enterprise data management, fully documented.

– Commercially attractive solution in comparison to the competition over all stages, during implementation and subsequent operation.

– The know-how and reliability of oraise as an IT service provider for the financial industry in project implementation, operation and support.

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